U.S. Stocks to Watch | Tesla, Alibaba, Coinbase, Boeing, Sirius XM, Destiny Tech100, and More

Tiger Newspress
2024-10-14

US futures were little changed as investors weighed the impact of fresh Chinese stimulus and looked ahead to major earnings this week.

These stocks made moves Monday:

Tesla - Tesla shares rebounded 1.6% in premarket trading Monday. The shares plunged 8.8% Friday after the electric vehicle maker’s long-awaited robotaxi event failed to impress investors.

Boeing - Boeing shares dropped 1.5% in premarket trading. Boeing will cut 17,000 jobs -- 10% of its global workforce -- delay first deliveries of its 777X jet by a year and record $5 billion in losses in the third quarter, as the U.S. planemaker continues to spiral during a month-long strike.

Sirius XM - Sirius XM shares jumped 6.9% in premarket trading. Berkshire Hathaway recently added to what has been a money-losing stake in Sirius XM Holding, the satellite radio company, buying 3.6 million shares for about $87 million late last week.

Destiny Tech100 - DXYZ is not a stock or an ETF, but a closed-end fund that holds a portfolio of 100 private companies, with SpaceX being its largest holding. The shares jumped 18.2% after SpaceX catched giant Starship booster in fifth flight test.

Chinese ADRs - Chinese ADRs dropped in premarket trading as investors assessed the potential impact of the support measures announced by the finance ministry over the weekend. Alibaba fell 1.5%; PDD Holdings fell 1.7%; NIO fell 1.6%; XPeng fell 3.9%; NetEase fell 2.9%; Bilibili fell 2.5%; Baidu fell 2.2%.

Crypto stocks - Crypto stocks jumped in premarket trading as Bitcoin surged to $64,000. MicroStrategy rose 5.3%; Marathon Digital and CleanSpark rose 4.3%; Bitfarms rose 3.9%; Riot Platforms rose 3%; Coinbase rose 3.7%.

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